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The $12 trillion federal debt bombshell
“Who on earth, or in global finance, will buy
this looming mountain of Treasuries”


In a recent Financial Times editorial, Gillian Tett, who rose to prominence for her coverage of the 2008 financial crisis, raised the question of financing the U.S. debt. Headlined America faces a battle to find buyers for its bonds, her article begins by referencing a letter to Secretary Mnuchin from Beth Hammack, a Goldman Sachs banker who also chairs the Treasury Bond Advisory Committee. The letter, she says, contains a bombshell . . .

[LINK]

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